The Average Rate is an ongoing, volume-weighted reading based on the transactions concluded and reference prices posted on the given trading day. The reference price is calculated on the basis of tradable quotes in the order book of the Eurex Zurich Ltd electronic trading platform, provided they lie within the parameters of the quote filter. The quote filter is parameterised in a way that limits the possibilities of manipulation to an absolute minimum. The Average Rate is continually calculated in real time and published every ten minutes. In addition, a fixing is conducted three times a day at 12.00 noon, 4.00 p.m. and at the close of the trading day (6 p.m. at the earliest). These fixings serve as a reference reading for derivative financial products and the valuation of fixed income investments.
